US EditionChevron in Talks with Trump Administration for Expanded Venezuela Oil License
Chevron seeks to boost Venezuelan crude exports amid US talks to supply up to 50 million barrels, with proceeds managed by US authorities to fund American goods.
- On Jan 7, Chevron, the American oil producer, entered talks with the US government to expand its Venezuela licence to increase crude exports and sell to other buyers, while requests for comment were not immediately returned.
- Washington and Caracas are negotiating to supply up to 50 million barrels of Venezuelan oil to the United States, while PDVSA confirmed on Wednesday it is making progress and expects terms like Chevron's.
- Sanctions exemptions let Chevron operate in Venezuela while restrictions cut exports to 100,000 bpd in December from 250,000 bpd earlier this year, with proceeds held in U.S.-controlled accounts to finance American goods.
- Sales tied to the plan would exceed $2 billion at Wednesday's prices, and Energy Secretary Chris Wright said the U.S. will market Venezuelan crude with funds in U.S.-controlled accounts.
- Washington is urging U.S. energy firms to re-enter Venezuela's market, encouraging Valero Energy, Exxon Mobil and ConocoPhillips, while inquiries from an Indian refiner have added tension to Caracas-Washington talks.
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75 Articles
How Chevron played the long game in Venezuela
On Saturday, hours after U.S. forces in Caracas killed at least 80 people and kidnapped Venezuelan President Nicolás Maduro, Donald Trump sounded less like a wartime commander than a developer surveying a newly acquired property. The country’s future, he told reporters at his Mar-a-Lago resort, belonged to “very large United States oil companies,” which would soon be pumping “a tremendous amount of wealth out of the ground.” The land in question…
The president of the National Assembly, Jorge Rodríguez, said that the sale of oil to the United States is a transaction between "legitimate and independent governments."
Trump wants to quickly bring Venezuelan oil to the US market - but Chevron, Exxon & Co. first demand legal and financial guarantees before pumping billions into the maraudous infrastructure. The US President can hardly ignore the demands of the oil multinationals.
MichaelSavage.com – Trump Effect: Venezuelan Regime Confirms Now Negotiating Sale of Oil to U.S.
Venezuela’s state-owned oil company PDVSA announced on Wednesday it is now holding negotiations with the United States for the sale of oil to America. In a statement published by the company through social media, PDVSA stated the negotiations for the sale of oil to the U.S. are within the “framework of the commercial relations that…
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